Executive Brief

The Ethereum platform is supporting many exciting new developments. We caught up with Tony Caradonna from ‘A Ken Evil Thing’ to discuss a movie that he is working as producer on called ‘The Pitts Circus’.

Read the full story below.

DCEBrief: Tony, can you tell us a little about the movie?

Tony Caradonna: “The Pitts Circus is a fictional horror-comedy movie that casts the Pitts family — a real circus family operating out of Australia where the first scenes are currently being shot before they travel to Switzerland to complete filming. In 2018 the independent film will feature at film festivals before its release in select cinemas worldwide and Video-on-Demand. What really excites us is that the movie is the world’s first film to be completely financed with Ethereum.”

DCEBrief: How was this done, and why did you decide to finance the film with Ethereum?

Tony Caradonna: “The movie is financed by six hundred and sixty-six crowdfunded shares, with each share’s cost at ten Ethereum (which is roughly 97 US dollars at the time of writing). Shareholders will receive 50% of the movie’s revenue for a 20 year guaranteed by smart contracts — self-executing, swiss-law based contracts that use computer protocols on Ethereum’s blockchain to verify and enforce the clauses agreed to by its signatories. This means faster and more secure contract settlement for everybody. The Pitts Circus is one of the first profitable real-world projects that is connected to the blockchain, which I believe makes it a great way to show everyday people the value proposition in blockchain and digital currency.”

DCEBrief: What else can we expect to see from this movie and your production company?

Tony Caradonna:“We want to see more community involvement in the production of films, from casting through to storyline. We have developed our own shareholder asset to help achieve this called EMV-coin (Ethereum Movie Coin). Our EMV coins will be distributed to all of our shareholders for free, with an ICO planned for additional coins in the future that could increase consumer participation in future media productions. The coins will allow consumers to add or vote for proposals, new content, and the strategic direction of future productions. We are creating a real-world business-case that showcases what is possible using Ethereum’s platform.”

DCEBrief: So EMV coin is an asset bearing decision making power for future movies where we can all vote to avoid overdone stories and endings to make way for new experiences on screen? Do EMV coins also benefit the film’s ROI?

Tony Caradonna:“Yes, exactly. This approach to production decision-making means that consumers see what they want to see. Contributors can exchange their novel ideas for the possibility the community may vote to have them put into production. This equates to lower production costs for the movie from community suggestion, and more film sales because the ideas have already been validated by the consumer. Combining lower production budgets with higher revenue rewards shareholders with improved profit. EMV coin holders profit from the content they help generate.”

DCEBrief: What can you see for the film industry in the future after The Pitts Circus is released?

Tony Caradonna:“I can foresee many movies being produced in a similar model through community contribution models. The lower production budgets these films may demand will lead to many new ideas can making it to the big screen, and anybody can have their name added to a film’s credits. If Ethereum continues at its current hype trajectory, I expect the EMV’s community development feature to become very popular, with many people wishing to buy EMV coins at exchanges so they too can participate in the model we have created. This outcome would be very favourable to EMV’s market price.”

DCEBrief: Any other plans for the future?

Tony Caradonna:“We have procured several business-to-business partnerships with cryptocurrency based companies that will help support EMV coin’s network including: Ledger Wallet, Trezor, and Ether card to make sharing of Ether and EMV coin secure and simple, COVAL to encrypt Bitcoin and Ether cryptocurrencies into audio files with their ‘Vocal’ platform that will act as digital product placement.”

About Tony:

Tony Caradonna has a Master in physics and philosophy. He financed his studies doing shows as a comedian and circus artist. He was touring with various circuses all over the world. That is where he met Ken Fanning a director and circus artist. He also met The Pitts Family an Australian Circus Family. Their first common encounter was on a tour with another Australian Circus 2000/2001. They have worked together regularly on various occasions ever since. At the moment, Swiss National Language Cooperation Arts funding is already granted and a Swiss National Film Arts Funding is still pending.

Timothy Goggin is an economic analyst with an interest in the application of moral philosophy and decentralized systems. He studied economics at the Business School at Victoria University of Wellington, New Zealand. His area of research is the consequential and moral dimensions of implementing digital currencies and the resulting synergies for consumers in the trading environment.

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